Getco, Knight OK merger at $3.75 a share

SteveGelsi

NEW YORK (MarketWatch) -- Knight Capital Group Inc.
kcg
said Wednesday it agreed to be bought by Getco Holding Co. for $3.75 a share in cash or one share of common stock of the new holding company. The deal values Knight at about $1.4 billion. "After a thorough evaluation, the Knight board of directors unanimously concluded that a merger between Knight and Getco provides the best possible value creation opportunity for Knight's shareholders," said Thomas M. Joyce, Knight's chief executive officer. Shares of Knight Capital rose 2.2% to close at $3.33 on Tuesday.

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